A cheque drawn by a bank official on the bank's deposits in another bank on a customer's instruction is known as?

• A. promissary note
• B. bankdraft
• C. banker's order
• D. travellers' cheque

The entitlement of a debenture holder from a company's income is known as

• A. commission
• B. interest
• C. lien
• D. dividend

A loan to a customer with a cheque account at a bank in which the account is allowed to go into debit is

• A. overdraft
• B. advance
• C. interest
• D. commission

The bank that discounts bills of exchange is the

• A) commercial banks
• B) central bank
• C) mortgage bank
• D) development bank

A shortcoming of the Second-tier Foreign Exchange Market in Nigeria is that it

• A. serves as a mechanism for evaluating an unrealistic exchange rate for the naira
• B. creates unhealthy competition amongst users of foreign exchange
• C. contributes to destabilizing national resource allocation
• D. contributes to flooding the market with foreign essential commodities

which of the following functions is not performed by trade association?

• A. research and development
• B. standardization of product
• C. credit facilities
• D. technical information

One of the inputs in production that can be motivated by remuneration is

• A. capital
• B. enterpreneur
• C. labour
• D. land

The principle of insurance which entitles an insurance company to take any advantage due to the insured after full indemnity is?

• A. contribution
• B. subrogation
• C. promiate cause
• D. utmost good faith

The document which regulates the operations of a partnership is known as

• A. Deed
• B. Articles of Association
• C. Prospectus
• D. Certificate of trading

Which of the following proves that important documents have reached their destination?

• A. business reply services
• B. telegram services
• C. recorded delivery services
• D. express delivery services